Financial Analysis Manager

Job Description:

• Lead the development and implementation of cost accounting systems to ensure accurate calculation of product costs, manufacturing overheads, and cost of goods sold (COGS).
• Perform detailed analysis of cost variances, identify areas for improvement, and provide recommendations to senior management.
• Develop and maintain standard costing systems, ensuring accuracy in cost allocation for materials, labor, and overheads.
• Budgeting and Forecasting:
• Prepare comprehensive cost budgets that align with the company's financial goals and strategic objectives.
• Regularly update and forecast costs based on business dynamics, collaborating with key departments for timely inputs.
• Monitor expenditure against budgeted figures and take corrective action where necessary.
• Cost Reporting:
• Provide regular and detailed costing reports, including standard vs actual variance analysis and insights on cost trends.
• Present findings to senior management, highlighting key cost drivers and offering actionable recommendations for improvement.
• Inventory Management:
• Ensure accurate inventory valuation for raw materials, work-in-progress (WIP), and finished goods using appropriate costing methods.
• Implement robust processes to minimize inventory obsolescence, improve inventory turnover, and ensure accurate inventory records.
• Perform inventory revaluation as needed.
• Internal Controls and Compliance:
• Ensure adherence to accounting standards, financial regulations, and internal controls related to costing, inventory, and financial reporting.
• Assist with internal and external audits by providing accurate and comprehensive costing and inventory data.
• Process Improvement:
• Continuously assess costing methods and accounting processes to identify and implement improvements for enhanced efficiency and accuracy.
• Develop and integrate new systems or tools for better cost tracking, data analysis, and reporting.
• Cross-Functional Collaboration:
• Collaborate with production, procurement, and supply chain teams to gather relevant data for cost tracking and forecasting.
• Provide cost insights for pricing decisions, product profitability analysis, and overall business strategy.

Required Skills and Qualifications:

• Education:
• A degree in accounting or a related field is required, along with professional certifications such as ICWA or CA.
• Experience:
• Minimum 8-10 years of experience in cost accounting, costing management, or financial analysis in a manufacturing or production environment.
• Proven expertise in managing costing systems, preparing budgets, performing variance analysis, and generating detailed cost reports.
• Experience in using ERP systems such as SAP, Oracle, or similar financial management software is highly desirable.
• Skills:
• Strong knowledge of cost accounting principles, financial regulations, and reporting.
• Advanced proficiency in Microsoft Excel, including macros.
• Strong analytical and problem-solving abilities.
• Ability to communicate complex financial data clearly to non-financial stakeholders.
• Excellent organizational, time-management, and multi-tasking skills.
• Personal Attributes:
• High attention to detail and accuracy.
• Strong communication, interpersonal, and leadership skills.
• Ability to work independently and as part of a collaborative team in a fast-paced environment.

Benefits:

• This role offers a challenging and rewarding opportunity to make a significant impact on the company's financial performance.
• The ideal candidate will be proactive, results-driven, and committed to continuous improvement.